Loading chat...
AZ HB2729
Bill
Status
2/7/2023
Primary Sponsor
Seth Blattman
Click for details
AI Summary
-
Adds definition of "same-day lender" to Arizona law as a lending company that lends $3,000 or less for a short period with finance charges higher than standard rates.
-
Requires consumer lenders and same-day lenders to be examined at least once every five years to ensure compliance with federal military lending protections under 10 U.S.C. § 987 and 32 CFR Part 232.
-
Establishes that enterprises, licensees, and premium finance companies extending consumer credit to covered military members or their dependents must comply with federal military lending laws, with violations treated as unlawful practices under consumer protection law.
-
Grants the Arizona Attorney General authority to investigate and enforce violations of military lending requirements through the state's consumer protection enforcement procedures.
-
Creates Title 44, Chapter 32 establishing state-level military lending protections mirroring federal requirements for consumer credit extended to active duty service members.
Legislative Description
Consumer credit; military; federal law
Military
Last Action
House read second time
2/8/2023